Global BOPET film market growth forecast

As noted in the ‘BOPET Film Global Supply Demand Report’, the market is currently balanced. Supplies from China and India continue to expand and dominate.

The industry has announced significant new capacity (nearly 890ktpa) to be installed in the market over the next five years, according to Robert Gilfillan, Wood Mackenzie Chemicals Head of Films and Flexibles.

“Global demand for BOPET film is expected to grow at a healthy rate of 5.6% per annum over the next five years. Forecast growth in Asia is expected to be significantly higher, particularly in China and India,” Gilfillan said.

The electrical and electronic sector will continue to offer avenues for growth, with healthy demand for OLED screens and PV cells to remain. Opportunities will be regionalised, however, as European demand for PV has reduced over the last five years following production shifting to China.

Sustainability issues

The key end use sector for BOPET film continues to be flexible packaging, which accounts for nearly 60 per cent of global consumption. Despite the current negative perception, global demand is expected to grow. Most of this growth is expected to be focused on the commodity thin BOPET film market.

“These are interesting times for the BOPET film industry,” Gilfillan added. “On one hand, there is a mounting pressure from brands who are responding to the change in public perception … on the other hand, we’re still seeing healthy demand, especially in Asia, for virgin BOPET film in a wide variety of end-use applications and, in particular, flexible packaging.”

Recycling and sustainability continue to pose questions on the future BOPET film, with polyolefin films more widely accepted in recycling streams, meaning the threat of polymer substitution could potentially see BOPET film lose market share in its key end-use sector.

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